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Author Archives: Benny Kass

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If ‘qualified intermediary’ isn’t (access required)

DEAR BENNY: I have been considering a 1031 action for some time, and I have wondered what happens if the intermediary holding the escrowed funds goes bankrupt. Is the intermediary allowed to co-mingle my funds with funds of the company? ...

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You need the power to sell the house (access required)

DEAR BENNY: My mother had to be moved to a nursing home from her “independent living” house. This is a very small retirement community and is connected to an “assisted living” facility next-door. People who live in the independent homes ...

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Second mortgage snarls deed-in-lieu (access required)

DEAR BENNY: In a recent article about deeds-in-lieu of foreclosure, you didn’t discuss what happens to second mortgages or other claims on title. Are they automatically assumed by the bank? – Tracy   DEAR TRACY: You are absolutely correct that ...

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Sloppy landowner stumped by the pump (access required)

I purchased vacant land (more than a half-acre) a little away from the city in a country living-style neighborhood. At the time of purchase, the lot was overgrown and mostly couldn't be accessed except in one corner where a pumping station existed. I did not obtain a survey; I just looked at the county records/maps and purchased the land.

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A creative idea that probably won’t work (access required)

What would the legal consequences be for heirs of an estate if the owner of a time share in his will specifically left word for the executor to pass the time-share deed back to the property association or company that owns the time-share complex?

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